A. The office shall:

1. 1. Provide economic and demographic research and analysis, including constitutionally required population estimates, and provide employment and unemployment estimates.
2. 2. Produce local labor market information packages and conduct labor market analyses, including special studies and job impact analyses in support of state and local employment, training, education and job creation programs and activities that support programs designed to align employer needs with the employment base to reduce unemployment and create jobs.
3. 3. Support the development and implementation of the workforce innovation and opportunity act (P.L. 113-128; 128 Stat. 1425).

B. The office may:

1. 1. Establish mechanisms to recover actual costs incurred in producing, maintaining and providing otherwise unfunded labor market information that is aligned with all applicable federal guidelines.
2. 2. Receive federal set-aside monies from any federal program that is authorized to fund state and local labor market information and that is required to use the information in support of the federal program.
3. 3. Coordinate with other state agencies to study ways to standardize and enhance federal and state multiagency administrative records and information, such as unemployment insurance information, to produce the employment, training, education and economic analysis needed to improve labor market information products and services.
4. 4. Partner with the federal government as needed in order to provide detailed employment and unemployment data, population projections and research data.

C. For the purposes of this section, "labor market information" means the body of information generated from measurement and evaluation of the socioeconomic factors and variables influencing the employment process in this state and specific labor market areas. Data used for measurement and evaluation may include unemployment insurance information received according to specific data sharing agreements with the department of economic security. The socioeconomic factors and variables that affect labor demand and supply relationships include:

1. 1. Labor force information, including unemployment, labor force participation, labor turnover and mobility, average hours and earnings and changes and characteristics of the population and labor force within specific labor market areas in this state.
2. 2. Occupational information, including occupational supply and demand estimates and projections, characteristics of occupations, wage levels, job duties, training and education requirements, conditions of employment, unionization, retirement practices and training opportunities.
3. 3. Economic information, including number of business starts and stops by industry and labor market area, information on employment growth and decline by industry and labor market area, employer establishment data and number of labor-management disputes by industry and labor market area.
4. 4. Program information, including program participant or student information gathered in cooperation with other state and local agencies along with related labor market information to evaluate the effectiveness, efficiency and impact of state and local employment, training, education and job creation efforts in support of planning, management, implementation and evaluation.